Topic - Michael Pearce

“This has clearly been a very large shock to households, particularly those at the lower end," Pearce said.

Wealthier American shoppers are driving retail spending and powering U.S. economy →

“What started out as a shortage of semiconductors affecting mostly the auto industry is now a shortage of basically everything, including lumber, metals and plastics,” said Michael Pearce, senior U.S. economist at Capital Economics.

Growth in US manufacturing slowed in April from March high →